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On September 1, Year 1, Gomez Company collected $18,000 in advance from a customer for services to be provided over a one-year period beginning on
On September 1, Year 1, Gomez Company collected $18,000 in advance from a customer for services to be provided over a one-year period beginning on that date. How much revenue would Gomez Company report related to this contract on its income statement for the year ended December 31, Year 1 ? How much would the company report as net cash flows from operating activities for Year 1 ? Multiple Choice $6,000;$6,000 $18,000;$18,000 $6,000:$18.000 $0;$18,000
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